AP HOLDINGS CO.,LTD.

Third-party allotment of shares to eliminate negative net worth

A theme involving capital strengthening and fundraising through third-party allotments of common and class shares as a required measure to eliminate negative net worth. This also includes procedures for implementation, such as an extraordinary general meeting of shareholders.

8companies10 threads

helps 10

FY2023 → FY2025

Maintaining Average Spend per Customer and Increasing Repeat Rates

A theme aimed at improving store profitability and same-store sales by increasing customer repeat rates while maintaining average spend per customer. It covers sales and customer strategies that combine customer spending with customer retention.

8companies8 threads

helps 8

FY2017 →

Expansion of the wholesale business to external restaurants and retailers

An ongoing initiative to extend the company’s production and distribution know-how into wholesale sales to external restaurants and retailers, expanding its business partners and wholesale revenue.

6companies6 threads

helps 6

Compound Supply and Brand Risks from Dependence on Key Ingredients

Dependence on specific key ingredients creates risks that supply shortages, permits and licensing, disease outbreaks, changes in consumer preferences, and damage to ingredient brands may affect the business and its performance. This includes reducing dependence on specific ingredients through measures such as diversifying production sites and developing alternative brands.

5companies5 threads

hurts 5

Promoting Fish Consumption and Expanding Demand through Public-Private Collaboration

An initiative to propose new ways of eating fish, as well as new products and business formats, through collaboration with national and local governments, fishing industry organizations, manufacturers and others, with the aim of addressing declining fish consumption and expanding demand for fish.

3companies3 threads

helps 3

FY2017-Q2 →

Manufacturing and food distribution collaboration through a capital and business alliance with Oisix ra daichi

A specific capital and business alliance to advance the use of manufacturing plants and collaboration in food distribution through a third-party allotment to Oisix ra daichi and the transfer of shares in セブンワーク.

Brand Licensing Expansion

FY2021-Q3 → FY2021

The dual-leadership structure of the representative director, chairman and founder, and the president CEO, and the transition to the chairman concurrently serving as president

The role-sharing structure between the representative director, chairman and founder, and the representative director, president, executive officer and CEO, and the subsequent transition to the chairman concurrently serving as president and the president CEO retiring.

Creating value in the food industry through an ALL-WIN approach for producers, sellers and consumers

flat 1

FY2023-Q3 → FY2024-Q2

A corporate mission to pursue the ideal role of food and create new value in the food industry by leveraging ties with primary industries, achieving high quality at low prices, and delivering mutual benefits to producers, sellers and consumers.

New Store Opening Plans for Tsukada Nojo and Shijuhachigyoba

An expansion plan for stores under the specified brands, Tsukada Nojo and Yonjuhachigyoba, covering new openings and capital investment from fiscal 2016. It also includes the opening of individual stores under the plan, such as the Yonjuhachigyoba Tsukuba store.

Investment in agriculture- and food-related companies through sixth-sector industrialization funds

FY2016 → FY2026-H1

An initiative to invest through a sixth-sector industrialization fund in regional producers and agriculture-related companies, including Tsuno Wine, and support them through management participation and business growth. In 2024, capital ties with the investee companies were dissolved and management participation ended.

Deterioration in the profitability of the production and distribution business due to lower operating rates at processing facilities and other sites

FY2017 →

A theme in which stagnation or declines in the number of stores and sales volume reduce domestic poultry production and vegetable distribution volumes, as well as utilization rates at processing plants and other facilities, putting pressure on earnings from the production and distribution business. This also includes earnings recovery through the consolidation and greater efficiency of processing plants and the pass-through of higher prices.

塚田農場 brand wins Japan Location Bento Awards

hurts 1

FY2018-Q1 →

A track record of 塚田農場 boxed-meal products winning the Japan Location Bento Awards multiple times, contributing to greater brand recognition.

Recruiting and Developing Talented Personnel

FY2025-H1 → FY2026-H1

Contested

Companies in these themes point in more than one direction. The same force lifts one filer and costs another, and the split is the reading.

Strengthening the human resources base through the recruitment and retention of highly specialized and self-motivated personnel, job-specific education and training, and the accumulation and transfer of knowledge. An ongoing human resources strategy that also includes flexible work arrangements and employee benefits.

Concentrated in Information and Communications・ Services and Others・ Retail・ Trading Companies and Wholesalemoving with the rest

1068companies1161 threads

helps 1113 · hurts 48

Company-wide risk management framework based on audits and internal controls

An ongoing governance framework that operates and strengthens company-wide risk management and internal controls through the audit division, Internal Control Committee, Audit and Supervisory Committee, internal regulations, whistleblowing system and other mechanisms.

Concentrated in Information & communications・ services and other; Retail; Electrical equipment and precision instrumentsshrinking against other themes

572companies579 threads

helps 566 · hurts 3 · flat 10

FY2015 →

Improving profitability by selecting and rationalizing low-margin projects and managing costs company-wide

Ongoing cost management initiatives to secure and expand profits by controlling manufacturing expenses and selling, general and administrative expenses. The scope extends beyond production-process efficiency to include SG&A and the overall production and sales structure.

Concentrated in Information and communications; services and other; retail; materials and chemicalsgrowing faster than other themes

430companies459 threads

helps 456 · hurts 3

Strengthening Organization-Wide Compliance, Internal Controls and Management Systems

Ongoing efforts to develop and strengthen the systems for personnel, administrative processing, business operations, franchisee management, risk management, and compliance in line with business growth.

Concentrated in Information & communications・ services and other; Retail; Electrical equipment and precision instrumentsmoving with the rest

383companies389 threads

helps 386 · hurts 3

Management of Material Issues and Board Oversight Framework for Sustainability Management

Broad

Themes almost every covered company sits in, where the direction is unanimous. The company list is the value here, not the direction — these are the ones worth scanning for who is missing.

A sustainability governance framework under which material topics are identified based on SASB, GRI, the SDGs and stakeholder input, initiatives are advanced by the responsible departments and committees, and the Board of Directors provides oversight and reporting.

Concentrated in Information and Communications・ Services and Others・ Retail・ Trading Companies and Wholesaleshrinking against other themes

958companies978 threads

helps 972 · flat 6

FY2020 →

Governance Response Through Directors and Officers Liability Insurance

A governance measure involving the purchase of directors and officers liability insurance covering directors’ and officers’ liability for damages and litigation costs, with directors, audit & supervisory board members and others named as insured persons.

Concentrated in Information and Communications・ Services and Others・ Retail・ Trading Companies and Wholesaleshrinking against other themes

958companies958 threads

helps 794 · flat 164

FY2020 →

Ensuring Fairness in the Nomination, Compensation and Development of Officers through a Nomination and Compensation Committee

A governance initiative that establishes a voluntary nomination and compensation committee to enhance the fairness, transparency and objectivity of procedures concerning the nomination, compensation and development of directors and other officers.

Concentrated in Information & communications・ services and other; Retail; Electrical equipment and precision instrumentsshrinking against other themes

714companies717 threads

helps 717

Grant and Issuance of Equity Compensation to Employees and Officers (Stock Options and Restricted Stock)

An initiative to grant stock options and restricted stock to employees, directors and executive officers to strengthen alignment of interests with shareholders and incentives.

Concentrated in Information & communications・ services and other; Retail; Electrical equipment and precision instrumentsmoving with the rest

679companies762 threads

helps 760 · flat 2

FY2015 →

Episodic

Themes tied to a dated event. The period is the point — it opens, it runs, and in most cases it closes, and a theme that stopped being written about is a finding in itself.

Transfer to Other Capital Surplus Through Capital Reduction and Capital Structure Reorganization

A theme involving the reduction of stated capital or capital reserves and the transfer of the resulting amount to other capital surplus to organize and adjust the capital structure. Covers capital reductions not primarily intended to offset accumulated deficits or implement an absorption-type company split.

Concentrated in Information and communications; services and other; retail; materials and chemicalsgrowing faster than other themes

219companies222 threads

helps 201 · flat 21

FY2016 → FY2026-H1

Geopolitical risks arising from US-China tensions, the war in Ukraine, and the situation in the Middle East

The risk that multiple international tensions, including US-China tensions, the war in Ukraine, and the situation in the Middle East, will increase uncertainty in the external economic environment and the business outlook. This covers broad geopolitical risks and is not limited to soaring resource prices or supply chain disruptions in specific regions, or the suspension of overseas operations.

Concentrated in Information & Communications・ Services and Other; Construction & Materials; Raw Materials & Chemicalsgrowing faster than other themes

114companies116 threads

hurts 116

FY2018-Q1 → FY2026-H1

Extraordinary loss from the reorganization and sale of subsidiaries and affiliates

A theme involving the recognition of a loss on the sale of shares in subsidiaries as an extraordinary loss. Covers losses related to the sale of shares in Dynapac (HK) Ltd. and other subsidiaries.

Concentrated in Information and Communications・ Services and Other・ Materials and Chemicals・ Electric Appliances and Precision Instrumentslast written FY2021

67companies71 threads

hurts 70 · flat 1

FY2020-Q2 → FY2021

Store Network and Earnings Structure Reform through Closure of Unprofitable Stores

An initiative to improve the earnings structure by closing unprofitable stores, streamlining the store network, reducing fixed costs and disposing of store assets.

Concentrated in Retail・ Information & Communication・ Services and Other・ Trading Companies & Wholesalegrowing faster than other themes

57companies59 threads

helps 58 · hurts 1

FY2016 → FY2026-H1

Housekeeping

Standards adoption, auditor changes and the like. Genuinely common and occasionally the exact thing you want to query, but placed last so the feature does not open on bookkeeping.

Change in Accounting Auditor

A theme concerning a company changing its accounting auditor to another audit firm, taking into account audit response and the appropriateness of audit fees.

Concentrated in Information & communications・ services and other; Retail; Electrical equipment and precision instrumentsmoving with the rest

831companies831 threads

helps 38 · hurts 2 · flat 791

Accounting Estimates Based on Assumptions Regarding COVID-19

A theme concerning accounting estimates, including the recoverability of deferred tax assets, based on the assumption that the effects of COVID-19 will continue for a certain period before improving. It also covers the potential impact of a prolonged outbreak on financial position and operating results.

Concentrated in Information and Communications・ Services and Others・ Retail・ Machineryshrinking against other themes

647companies650 threads

hurts 510 · flat 140

FY2020 → FY2026-H1

Implementation of the Accounting Standard for Disclosure of Accounting Estimates

A theme concerning the disclosure requirements for financial statements and notes arising from the application of the accounting standard for disclosure of accounting estimates. The standard has applied from the fiscal year-end for the fiscal year ended December 2021.

Concentrated in Information & communications・ services and other; construction and materials; trading companies and wholesalemoving with the rest

606companies606 threads

helps 17 · flat 589

FY2020 → FY2026-H1

Preparation for the Adoption of Multiple New Accounting Standards

A theme covering preparations and impact assessments for the consolidated financial statements in anticipation of the effective dates of multiple new accounting standards, including tax-effect accounting, revenue recognition and lease accounting. It is not limited to any single standard.

Concentrated in Information & Communications・ Services and Others・ Materials and Chemicals・ Machineryshrinking against other themes

138companies138 threads

helps 1 · hurts 3 · flat 134